The URL can be used to link to this page

Home My WebLink About0232 8. Ia~psctioa. l.endsr may me?ke ar cawe to bs made reawaable e~trie~ upon aad inrpectiona of the property, pmvided that [.eudat ~hall give Borrower notice prior to any such inapectioa ~PecityinQ reasoneble caws thesefor releted to'Lender i intere~t in th~ Property. 9. Condemnwtion.'l~e pmoeecia of any award or cleim for dam~e~, direct or coasequcntial, in connectioa wiW aay oardemnation or otl:e~ eakin~ ot the prop~ty, or part thereof. or fa coavsyaaoe i~ lieu of oondaanation, ars hereby eusigned and shall be p~id b Leadet. Ia the eveat of a total tnkin~ ot the P~opsrty. the procads a6a11 b~ ~ppiisd tu tbs ~uau ~ecured by this Ma~t~a~e. with We ~oer, if eny. ; paid to Borrower. In tM event of s partisl takins of tbe Piopt~y. unles~ BKCOwer aad I.ender othervi~s agree in aritin~. there shdl be ? applied to the ~uma ~ecured by this Mort~sQe snch proportton d the proceeda a~ ia equal to thet proportion ~rhich the amount ot We snms ; secund by thia Mort~a~e immediately prior to the date oE takin~ bean fo the fair market value of tt~e Property immediately prior b the dd~s o[ ~ ; t,akinB. with the bwlanoa of the proceed~ psid to Borrowes. II the Property u sbendoAed by Borrower. or it, aRer notioe by Lender to Borrower that the ooademnor ogers to make aa a~rud or ~ettk s ~ claua for dama~e~. Borrower fsib to respond to I.ender withiA ~ daY~ sfter the date such aotioe is mailed. Lender is authozir~ed to ooliect aad ? aPP1Y ~ P~. at Leadet'~ option. either to restoration or repair of the pm~t,y or to the sums secured by thi~ Mostsa~e. Unless Lender aad Borroaer otherwi~e esree in wtiting. any such eppGcaaon of prooeeds to priacipal.hall noc escend or pwtpone tbe dne date of the moathly inetallme~ts refen~ed to i~, paragrapba 1 and 2 h~raof os change the amount of snch uutaUmeat~. 10. Horrower Not Relea~ed. Extension of the time for paymant or modi6catioa of amottization olthe sume secured by thi~ Mottge~e ' granted by Lender W any succ~sor in interest of Borrower shall not operate to release. in any manaer, the liability of the o:iginal Borrowar } and Borrower s sucoesaon in interest 1.ender ahall not be required to oo~nmenae prooeedings against such succeesor or refwe to e:t~?d time i for payment or olherwise a?odity amortization of the auma secared by thie Mortgage by reason of any demand made by the original Borrowier ' and Borrower e aucceswrs~in intereet. 11. Forbearanoe by I.ender Not a Waiver. My forbeeranoe by Lender ia e:eraiaing any rtght or remedy hereander, us otherwi~e afforded by applicabk law. shall aot be a waiver of or praclude the exercisa of any such Tight or remedy.'t1~e pmcurement of insaranoe a: the ' payment of tases or other lien~ or charges by I.end~ shail ~ot be a waiver of I.ender a right to aooelerate the maturity oY tha indebtedaas ~ eecused by this Moifgage. - 12 Remedle~ ~tmutadve. All remedies provided in thia Mortgage are dietiact and cumulative to any other right or nmedy nnd~ tliir ; Mortgege a~ aiforded by law or equi~jr. and may be ~ercised ooncarrendy. independendy or successively.. - , i3. Snooeesors and Assi~n, Bound; Joiat and several Liabillcy; Captions. The oovenants aad agreementa 6~ein ooatained shall bind. aud the rights hereunder ahell inure W, the reapective s~ceessors and assigns of Lender and Borrow~, subject to the proviaions of ~ paragraph 17 hereof. All eovenants and agreements of Borcower shaU be joint and several.'!be captione and headings of the pa~ag~aphs ot thia Mortgage are for oovenience only and an not to be used to interpnt or defiae the provisiona hereof. ` 14. Notice. E:cept for any notice required under applicable 1aw to be given in another manner, (a) any notice to Bormwer provided for in ; thia Mortgage shell be given by mailing such notice by certi5ed mail addreaeed to Bortower at the Property Addreae~or at such other ad~ as Borrower may desigaate by notice to Lender as provided herein. and (b) any notice to Lender ahall be given by certified mail. retam reoeipt requeated. to Lender r addreas atated heoein or to euch other addreee aa I.ender may deeignate by notice Lo Bo~ower es provided hadn. Any notice prnvided for in this Mortgage shall be deemed to have been givea to Borrowrr or I.ender when given in Lhe maaner designated herein. 15. Uniform Idort~age; GovernEng Law; Severability. Thia [ornr of mortgage combine~a uniform oovenants for natioaal nse and non- t unifornn rnvenanta with limited variationa by jurisdiction to oonstitute a uniform security insttument oovering real property.'Ifiis Mortgage ; ahall be governed by the law of the juriediction in which the Property ia located. In the event tha! any provision or clauee of this Martgage or s the Note contlicta with spplicable law, euch conAict ahall not affect other provisiona of this Morigage or the Note wWch csn be given et~ed ; without the conilicting proviaion. and to thia end the provisione of the•Mortgage and the Note are declared to be severable. ; 1& Borrower's Copy. Borrower eha11 be furaished a rnnformed oopy of the Nofe and of this Mortgage at the time of e~cecution or after recordation hereof. _ 17. Transfer of the Property; Aeaumptioa. If all or any part of the Property or an intereet therein ia sold or transfen+ed by Borrower without Lender'e prior written coneent, ezcluding (a) the rreation of a lien or encumbrance subordinate to thia Mortgage, (b) the creation of a purchase money security interest for household appliances. (c) a tranafer by devise, descent or by operation of law npon We death of a joint tenant or (d) the grant of any leaseiwld interest of three yeara or lesa not oontaining an option to purchase, Lender may, at I.ender'e option. declare all the euma se~.vred by thia Mortgage to be immediately due and payable. Lender shall have waived auch option to aocelerate if, prior to the sale or transfer. Lender and the pe~on to whom tha Property ia to be eold or transferred reach agreement in writing that the credit of a~h penon is satia~actory to Lender and that the interest payable on the sums secured by this Mortgsge shall be at auch rate aa Leflder. ahall , requeat. If Lender haa waived the option to accelerate provided in this paragraph 17, and if Borrower s auccessor in interest has rsecvted a I~ written assumption agreement aocepted in writing by i.ender, Lender shall release Barrower from all obligatione under thia Mortgage and the ; ~ Notc. ' If Lender exerctises such option to aocel~ate, I.ender shall mai~ Borrower notice of acceleradon in acoordanae with paragraph 14 hereoL Such notice ahall provide a period of not leas than 30 days from the date the notice is ~r.siled within which Borrower may pay the sums decland _ due. If Borrower fails to pay auch sume prior to the expiration of such period, Lender may, without further notice or demand oa ~3orrower. t invoke any remedies permitted by paragraoh 18 hereof. ~ . ` 18. Aoceleration; Remedies. Ezcept ns provided in paragraph 17 hereof, npon Borrower'e bre8ch of any oovenant or agreemeat of Borrower in tbls Mortgage, including the oovenante to pay when due any sums sewred by this 1[ortgase, Lender - prior to aoceleration shall mail notice to Borrower as pmvided in paragraph 14 hereof specifying: (1) t6e breach; (2) t6e action ~ required to care sacb breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrower, by which sach breach muat be cured: and (4) that failure to cnre such breach on or before the date specified in the notice may resnlt in acoeleration of W e suma eecured by this Mortgage, foreclosure by judicia! proceeding and sale of the Property. The notioe shall turt6er intorm Borrower of the rig6t to reinstate after aooeleration and the right to aseert in the foreclosure proceeding the non•ezjstence of a default or any other defense of Borrower to acceleration and foreclooure. If the breach_ ie not cured on or before the date epeciRed in the notice, Lender at Lender's option may declare sU of the auma secured by t6is Mort~age to be. immediately due and payable without furt6er demand and may foreclose this Mortge~e by judicial proceeding. Lender shall be entitled to collect in such proceeding all ezpenses of forecloaure, including, but not limited to. reasonable attorney's fees, snd ~ costs o[ documentary evidence, abstracts and title reporte. 19. Borrower's Right to Reinetaie. Notwithetunding Lender's aoceleratioh of the euma secured by thie Mortgage, Borrowe~ahall have the right to have any pmceedings begun by I.ender to enforce thia Mortgage diaoontinued at any time prior to eatry of a judgment enforcing thia Mortgage if: (a) Bor~ower pays i.ender all aums which would be then due under this Mortgage. the Note and notes securing I~Uu~e . Advances, if any, had no acxeleration occurred: (b) Borrower cures all breachea of any other covenante or agreementa of Borrower oontained in - this Moitgage; (c) Bon~owet peys all reseonable racpeneea incurred by Lender in enforcing the covenanta and agreements of Borrowa aontained in this Mortgage and in enforcing Lender's remediee se provided in paragraph 18 hereof, including, but not limited to, reasonabk?' ~ attoroey's feea; and (d) Borrower telces snch aMion aa Lender may reasonably require to assure that the lien of thie Mortgage, Lendds iatered - ~ in the Propezty and Borrower e obligation to pay the auma eernred by this Mortgage ehall continue unimpaired. Upon such payment and care ~ by Aorrower, thia Mortgage and the obligmtioae secured bereby ahall remain in fnll force and effect as if no acceleration had oocurred. ~ Z0. Assignment of Renta; Appointment of Receiver. As additional eecurity hereunder, Borrower hereby aeaigns to-Lender tbe rmts of the Proprrty. provided that Borrower ahaU..prior to sooeleration ander patagraph 18 hereof or abandonment of the Property. have tt~e right to coilect and :etain auch rents as they become due and payable. ~ Upon acceleration undcr paragraph 18 hereof or abandonment of the Property, Lender shall be eritided to have a reaeiver appointed by a oourt b enter~npon, take possession of and manage the Property and to oollect the rents of the Property, including those past dne. All rmta oollected by the reoeiver ahall be applied fust to payment of the aoata of management of the Property and collection of rents, including, bat not ~ limited to, receiver e feee, premiums on receiver's bonds and reasonable attorney's feea, and then to the sums eecured by this Mortgage.ll~e t reoeiver shall be liable to acooant only for thoee rents actually received. ' ~ ~ _ ~ - 500~ 289 PA~E 232 `Y .~.w~~ , i . . .~~a, ~ .7,.•-_~.~ ~~r L.~.r . ,~-...~=.iF ~Z;f~ - y ~ ' h`HS~'~ ~~~~""~~.F"'~ ~ ~'~`,'~~",~i- y . ~w ~ S~.-: ~6 .'C.' - . ,=%W'~ _ ~ iF. L_'''~ .:5~~''9~y ea T~x _ ~~~4